Ex-Im Bank Approves USD 160 Million Guarantee to Support BTC

The Export-Import Bank of the United States (Ex-Im Bank) approved on December 30 a USD 160 million long-term guarantee to support the export of U.S. equipment and services for construction of the Baku-Tbilisi-Ceyhan Pipeline project (BTC).

U.S. companies will supply engineering services, control systems and pump systems for the project.

The BTC pipeline, with a capacity of one million barrels per day, will transport crude oil from Azerbaijan to the Turkish marine export terminal at Ceyhan, via Georgia. 

“U.S. participation in the project will support thousands of U.S. jobs among exporters and suppliers,” Reuters reports quoting Ex-Im Bank Chairman Philip Merrill.